Definition - What does Retroactive Date mean?
The retroactive date is the day when insurance coverage begins. Claims filed for dates before this day will not be covered. However, claims filed on or after this date will receive coverage as long as the claim is filed within the limits of the coverage period.
Insuranceopedia explains Retroactive Date
Retroactive dates are commonly used in claims made insurance policies. They are extremely important because they can determine whether or not a particular claim will be covered. For this reason, policyholders should know the retroactive dates for their policies. It is also important for them to file any claims before the relevant policies expire. Otherwise, the insurance company will not reimburse them for the particular loss, forcing them to shoulder the full burden of the loss.